Roles and Responsibilities and Key Messages for Various Stakeholder Groups

Transcription

1 Roles and Responsibilities and Key Messages for Various Stakeholder Groups Acknowledgement This power point material was prepared on Aug by the Technical Working Group (TWG) on the Roadmap to Financial Literacy on Microinsurance (Philippines) with technical assistance and funding support from the ADB-JFPR Developing Microinsurance Project and GIZ Microinsurance Innovations Program for Social Security (GIZ-MIPSS). The TWG is comprised of representatives from the Department of Finance National Credit Council (DOF-NCC), Insurance Commission (IC), Cooperative Development Authority (CDA), National Anti- Poverty Commission (NAPC), Philippine Health Insurance Corporation (PhilHealth), Philippine Information Agency (PIA), Securities and Exchange Commission (SEC), Association of Health Maintenance Organizations of the Philippines, Inc. (AHMOPI), Chamber of Mutual Benefit Associations (ChaMBAI), Cooperative Insurance System of the Philippines (CISP), CLIMBS Life and General Insurance Cooperative (CLIMBS), Insurance Institute for Asia and the Pacific, Inc. (IIAP), Microfinance Council of the Philippines (MCPI), Philippine Insurers and Reinsurers Association (PIRA), Philippine Life Insurance Association (PLIA), RIMANSI Organization for Asia and the Pacific, Inc. (RIMANSI), ADB-JFPR Developing Microinsurance Project and GIZ-MIPSS. This presentation was first used during Finlit roadshows, Sept 2011 to Aug

2 Learning Objectives By the end of this presentation, microinsurance advocates should be able to: 1. Identify the various stakeholders in Microinsurance 2. Understand the key responsibilities and roles that each stakeholder group has in promoting the growth of Microinsurance 3. Elaborate key messages targeted to each stakeholder

3 KEY STAKEHOLDERS

4 KEY STAKEHOLDERS

5 Key Messages for Legislators Promote financial inclusion, good governance, and consumer protection Enhance private sector participation Laws and Statutes Encourage development of Innovative microinsurance products Promote financial literacy and education among the low-income sector Provide nonsubsidized market oriented incentives

6 Role and Responsibility of National Gov t Agencies Effectively link microinsurance providers and clients. Provide basic support services (infrastructure, health services, education, maintenance of peace and order, among others)

7 Key Messages for National Govt Agencies Address constituents needs for risk protection Conduct financial literacy and education Programs and Projects Incorporate MI as an integral development indicator (PDP & NSFI) Provide linkages with industry players

8 Support Institutions (Academic Research Entities, Business Process Outsourcing Companies, Training and Technical Assistance, Service Providers, Networks and Associations, Media, Foundations, and other Service Providers)

9 Key Messages for Support Institutions Develop appropriate back office support systems such as business process outsourcing Enhance public s trust and confidence through education Services Provide support in product development Raise public awareness on importance of microinsurance

10 Clients Role and Responsibility Understand and appreciate the concept of risk protection Know their options and make informed decisions Encourage others to buy microinsurance because they themselves are convinced of its value

11 Key Messages for Clients Assist in promoting financial literacy Avail of simple, affordable and easily accessible products Be prepared instead of bahala na Microinsurance Buy from licensed providers Protect oneself against various risks Be aware of rights and privileges

12 Things to Remember There are various stakeholders in Microinsurance, and each has an crucial part to play; It is important that each stakeholder understands its role and responsibilities and, that an interdependent relationship exists among all stakeholders. Financial Literacy is educating, not marketing Advocacy is convincing, not selling It is of utmost importance that we in the sector exchange knowledge and share experiences of what has worked and what hasn't, to encourage and facilitate innovation - Marco Antonio Rossi, President, Bradesco Seguros Group

13 Find more info in FLiCK

14 Thank you!